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Big tax breaks for multinationals in Nigeria

ActionAid and the Centre for Research on Multinational Corporations (SOMO) researched several multinationals in Nigeria and found out that Nigeria has provided generous tax breaks to big oil companies since 1999. A consortium of the companies Shell, Total and ENI received, besides the usual exemption of five years, another 3.3 billion dollar advantage over seven years, during the execution of the largest gas project in the country.

The two organizations called for fair taxation of Western companies in developing countries. They warned the Nigerian Parliament not to execute the plan to extend the tax breaks. The Fair Tax Monitor (http://maketaxfair.net/ftm/) shows that governance of tax exemptions needs to be urgently improved in other developing countries as well, notably in Bangladesh.

If you want to read more about this research you can do so on the following websites